LeaseLock, a leading insurtech platform for real estate, has announced the closing of a $52 million Series B financing.

The financing round was led by London-based Westerly Winds and Wildcat Venture Partners, with major investors that include SoftBank Ventures Asia, Vertex Ventures US, Liberty Mutual Strategic Ventures, American Family Ventures, Moderne Ventures, Strata Equity Group, Veteran Capital, and Mucker Capital.

One-third of all renters experience issues with their credit scores, meaning they will either have to get a cosigner or pay an exorbitantly high security deposit, otherwise they will be declined for their new apartment home. LeaseLock, a disruptive new type of insurance for the rental housing market, solves this problem. LeaseLock eliminates archaic financial instruments used by property managers by introducing an insurance product powered by technology that better evaluates risk beyond just the credit score.